Applicant change...

[VASU]

When Issuing bank changes the Applicant, I suppose, this need to be treated as an amendment and amendment advise need to be send to Advicing bank. Request comments on this....

[akomolpa]

That change the terms of the LC, so it needs to have an amendment advising to the Advising Bank . But Beneficiary must agree to this amendment , otherwise LC with the old Applicant will remain. The Issuing Bank must aware to this point and be carefully to manage the Application form for LC issue and amendment to bind both old and new applicant with Issuing Bank.
For this reason, it is more safe for Issuing Bank to cancel the old LC with the Beneficiary's consent and issue a new LC.

rgds,
akomolpa

[Jackie]

Hi
I agree totally with the last post. In my opinion it is much safer to cancel the L/C and issue a new one.
thanks